Golden Agri-Resources Ltd · SGX:E5H
Golden Agri-Resources — FY2023 Earnings Presentation
17 slides from Golden Agri-Resources's earnings presentation, Feb 28, 2024
Slide 1: Golden Agri-Resources Ltd. Full Year 2023 Performance
www.goldenagri.com.sg Golden Agri-Resources Ltd. Full Year 2023 Performance 28 February 2024
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Golden Agri-Resources Ltd. (“GAR” or “Company”) for informational purposes, and may contain projections and forward looking statements that reflect the Company’s current views with respect to future events and financial performance. These views are b
Slide 3: Executive Summary
Executive Summary Robust full year 2023 financial results. Year-on-year decline was in line with CPO price normalisation. Segmental EBITDA Revenue EBITDA US$ million 1,826 US$9.76 bn US$986 mn -15% -46% 1,214 1,022 Underlying Profit1 Dividend/share 986 US$328 mn Supply growth 434remains limited with
Slide 4: Financial Highlights
Cia | Financial Highlights /
Slide 5: Financial Performance
Financial Performance Robust financial performance for FY 2023 despite impact from CPO price normalisation and lower production during the year US$ million FY 2023 FY 2022 YoY 2H 2023 1H 2023 HoH Revenue 9,756 11,439 -15% 4,880 4,876 0.1% Gross Profit 1,851 3,026 -39% 969 882 10% EBITDA1 986 1,826 -
Slide 6: Financial Position
Financial Position Financial position continued to be healthy supported by prudent financial management US$ million 31-Dec-23 31-Dec-22 Change Total Assets 9,716 9,902 -2% Cash and short-term investments 1,135 1,145 -1% Fixed assets1 3,817 3,820 -0.1% Total Liabilities 4,537 4,648 -2% Net Debt2 391
Slide 7: Dividend Distribution for FY 2023 Profit
Dividend Distribution for FY 2023 Profit The Board declares final dividend of 0.613 Singapore cents per share, subject to shareholders’ approval at the 2024 Annual Meeting Cash Dividend FY 2023 FY 2022 Dividend per share (in S$ cents) 0.613 1.791 Total Dividend (in S$ million) 77.74 227.13 Underlyin
Slide 8: Segmental Performance
Cia | Segmental Performance /
Slide 9: Segmental Results: Plantations and Palm Oil Mills
Segmental Results Plantations and Palm Oil Mills FY 2023 FY 2022 YoY 2H 2023 1H 2023 HoH Revenue (US$ million) 2,007 2,268 -12% 1,090 917 19% EBITDA (US$ million) 478 804 -41% 259 219 19% EBITDA margin 23.8% 35.5% -11.7% 23.8% 23.9% -0.1% CPO FOB Market Price (US$/MT) 901 1,248 -28% 854 949 -10% Net
Slide 10: Oil Palm Plantations
Oil Palm Plantations Technological innovation and replanting with higher yielding seeds ensure long-term productivity growth Age Profile (ha) 8% Mature Area (ha) Planted Area (ha) 24% 45,342 10% 532,176 537,697 486,834 497,353 116,247 115,600 126,218 50,838 109,235 108,074 389,279 415,929 422,097 63
Slide 11: Segmental Results: Palm, Laurics and Others
Segmental Results Palm, Laurics and Others Downstream business continued to contribute strongly to consolidated EBITDA FY 2023 FY 2022 YoY 2H 2023 1H 2023 HoH Revenue (US$ million) 9,643 11,366 -15% 4,809 4,834 -1% Sales Volume (‘000 tonnes) 10,871 9,698 12% 5,723 5,148 11% EBITDA (US$ million) 507
Slide 12: Strategy and Outlook
Cia | Strategy and Outlook /
Slide 13: Business Strategy and Outlook
Business Strategy and Outlook Strategic Focus Fortifying our position as an innovative and leading integrated agribusiness and food player, with a superior at-scale upstream and Robust Industry Outlook resilient value-adding downstream businesses Slowing supply growth with aging plantations and repl
Slide 14: Towards Responsible Palm Oil Production
Towards Responsible Palm Oil Production Fully traceable palm supply chain • Achieved 99% traceability to the plantation for the palm supply chain in Indonesia • Carrying out Traceability to the Mill for global palm supply chain • This will help GAR comply with upcoming requirements like EUDR • Trace
Slide 15: Appendix
Cia | Appendix /
Slide 16: Plantation Age Profile
Plantation Age Profile Immature and younger estates use newer-generation higher-yielding planting materials that will further boost production growth in the future Immature Young Prime 1 Prime 2 Old Total hectares (0-3 years) (4-6 years) (7-18 years) (19-25 years) (>25 years) 31 December 2023 Nucleu
Slide 17: Contact information
If you need further information, please contact: Golden Agri-Resources Ltd c/o 108 Pasir Panjang Road #06-00 Golden Agri Plaza Singapore 118535 Tel: +65 6590 0800 Fax: +65 6590 0887 www.goldenagri.com.sg Richard Fung - Director, Investor Relations [email protected] Golden Agri-Resources @GAR